8-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

Current Report

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):    May 23, 2018

 

 

CVB FINANCIAL CORP.

(Exact name of registrant as specified in its charter)

 

 

 

California   0-10140   95-3629339

(State or other jurisdiction of

incorporation or organization)

 

(Commission

file number)

 

(I.R.S. employer

identification number)

 

701 North Haven Avenue, Ontario, California   91764
(Address of principal executive offices)   (Zip Code)

Registrant’s telephone number, including area code: (909) 980-4030

Not Applicable

(Former name or former address, if changed since last report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (See General Instruction A.2.):

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 


Item 5.02    Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On May 23, 2018, CVB Financial Corp. (the “Company”) held its 2018 Annual Meeting of Shareholders (the “Annual Meeting”). At the Annual Meeting, the Company’s shareholders approved the CVB Financial Corp. 2018 Equity Incentive Plan. The 2018 Equity Incentive Plan replaces the Company’s 2008 Equity Incentive Plan which expired on April 11, 2018. The 2018 Equity Incentive Plan reserves for issuance up to 9 million shares of the Company’s common stock for eligible participants, which include all of the Company’s employees, officers, and directors. The material terms of the 2018 Equity Incentive Plan are summarized in “Proposal 4: Approval of 2018 Equity Incentive Plan” in the Company’s definitive proxy statement on Schedule 14A filed with the Securities and Exchange Commission on April 4, 2018, which is incorporated by reference herein. That summary and the foregoing description are qualified in their entirety by reference to the full text of the 2018 Equity Incentive Plan, a copy of which is filed as Exhibit 10.1 hereto and incorporated herein by reference. Forms of the Stock Option Agreement, Restricted Stock Agreement and Restricted Stock Unit Agreement which may be used for grants under the 2018 Equity Incentive Plan are filed hereto as Exhibits 10.2, 10.3 and 10.4 and incorporated herein by reference.

Item 5.07    Submission of Matters to a Vote of Security Holders.

 

(a) On May 23, 2018 the Company held its Annual Meeting.

 

(b) Each of the matters submitted to the shareholders was approved by the requisite voting power required for approval of the respective proposal. The results of the voting on the matters submitted to the shareholders are as follows:

Proposal 1 – Election of Directors

The following eight individuals were elected to serve as directors of the Company for a one year term expiring at the 2019 Annual Meeting of Shareholders or until their successors are elected and qualified:

 

Nominee

   Votes For    Votes Withheld    Broker Non-Votes

George A. Borba, Jr.

   81,051,786    126,072    20,505,045

Stephen A. Del Guercio

   81,034,220    143,638    20,505,045

Rodrigo Guerra, Jr.

   81,045,783    132,075    20,505,045

Anna Kan

   80,674,768    503,090    20,505,045

Kristina M. Leslie

   81,032,536    145,322    20,505,045

Christopher D. Myers

   81,035,200    142,658    20,505,045

Raymond V. O’Brien III

   81,018,834    159,024    20,505,045

Hal W. Oswalt

   81,018,861    158,997    20,505,045

Proposal 2 – Ratification of the Audit Committee’s Appointment of the Independent Accountants for 2018

The appointment of KPMG LLP to serve as the Company’s independent registered public accounting firm for 2018 was ratified. The voting results were as follows:

 

Votes For

   Votes Against    Abstain    Broker Non-Votes

100,978,901

   558,172    145,830    0


Proposal 3 – A Non-binding Advisory Vote to Approve the Compensation of our Named Executive Officers (“Say-On-Pay”).

 

Votes For

   Votes Against    Abstain    Broker Non-Votes

80,472,301

   430,553    275,004    20,505,045

Proposal 4 – Approval of the CVB Financial Corp. 2018 Equity Incentive Plan

 

Votes For

   Votes Against    Abstain    Broker Non-Votes

80,028,832

   879,908    269,118    20,505,045

 

Item 9.01    Financial Statements and Exhibits.

 

(d)    Exhibits

 

Exhibit No.   

Description

Exhibit 10.1    CVB Financial Corp. 2018 Equity Incentive Plan (1)
Exhibit 10.2    Form of Stock Option Agreement under 2018 Equity Incentive Plan*
Exhibit 10.3    Form of Restricted Stock Agreement under 2018 Equity Incentive Plan*
Exhibit 10.4    Form of Restricted Stock Unit Agreement under 2018 Equity Incentive Plan*

 

 

*  Filed herewith

(1)    Incorporated herein by reference to Exhibit A to the Registrant’s Definitive Proxy Statement on Form DEF 14A filed with the Securities and Exchange Commission on April 4, 2018.


Exhibit Index

 

Exhibit No.   

Description

Exhibit 10.1    CVB Financial Corp. 2018 Equity Incentive Plan (1)
Exhibit 10.2    Form of Stock Option Agreement under 2018 Equity Incentive Plan*
Exhibit 10.3    Form of Restricted Stock Agreement under 2018 Equity Incentive Plan*
Exhibit 10.4    Form of Restricted Stock Unit Agreement under 2018 Equity Incentive Plan*

 

 

*  Filed herewith

(1)

   Incorporated herein by reference to Exhibit A to the Registrant’s Definitive Proxy Statement on Form DEF 14A filed with the Securities and Exchange Commission on April 4, 2018.


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

   

CVB FINANCIAL CORP.

(Registrant)

Date: May 24, 2018       By: /s/ E. Allen Nicholson                                                         
      E. Allen Nicholson
     

Executive Vice President and Chief

Financial Officer